Friday, October 5

The next time someone tells you that the U.S. can drill its way to energy independence, tell them they're full of ... crude.

"Fuel demand from China, India and Brazil -- three countries with a combined population of 2.7 billion -- is the chief factor behind rising prices." ...

"The U.S. can drill all it wants but it's hard to find anybody who expects greater domestic production to move gas prices by more than, say, two percentage points in the next six months. The problem is that the market for oil is global and U.S. supply is too small to make an impact."